Royal Bank of Canada Sells 214,457 Shares of Moelis & Company (NYSE:MC)

Royal Bank of Canada lowered its position in shares of Moelis & Company (NYSE:MC - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 441,970 shares of the asset manager's stock after selling 214,457 shares during the quarter. Royal Bank of Canada owned approximately 0.59% of Moelis & Company worth $32,652,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC grew its position in shares of Moelis & Company by 52.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock worth $30,000 after buying an additional 137 shares during the period. Headlands Technologies LLC bought a new position in shares of Moelis & Company during the fourth quarter worth $31,000. R Squared Ltd acquired a new position in shares of Moelis & Company in the 4th quarter valued at $47,000. Jones Financial Companies Lllp increased its position in shares of Moelis & Company by 148.3% in the 4th quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock valued at $61,000 after buying an additional 491 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Moelis & Company during the 4th quarter worth $61,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Moelis & Company from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Morgan Stanley dropped their target price on shares of Moelis & Company from $70.00 to $42.00 and set an "underweight" rating on the stock in a report on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group increased their price objective on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (up previously from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $59.83.

Moelis & Company Stock Performance

NYSE:MC traded down $0.55 during mid-day trading on Wednesday, hitting $57.82. 101,606 shares of the stock were exchanged, compared to its average volume of 769,089. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89. The firm's 50-day simple moving average is $55.38 and its 200 day simple moving average is $67.01. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 32.86 and a beta of 1.66.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $306.59 million for the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. The firm's revenue for the quarter was up 41.0% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. On average, analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, May 5th. Moelis & Company's dividend payout ratio is currently 119.27%.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.